Edinburgh-based SportsPro secures £750k loan to accelerate growth – Scottish Business Intelligence
Summary
SportsPro designs and manufactures apparel for both professional and grassroots sports teams and holds the UK licence for Hummel. The loan will help the company grow in female sportswear and digital sales, and expand into retro sports fashion.SportsPro, an Edinburgh-based provider of pro and amateur sportswear, has secured a \xa3750,000 growth loan from the British Business Banks Investment Fund for Scotland, via appointed Fund Manager, The FSE Group.The funding will enhance SportsPros brand development, marketing efforts, and operational capacity while supporting the creation of six new roles within the company.SportsPro designs and manufactures sportswear, training apparel and team wear for professional sports clubs, players and athletes as well as local sports teams, junior teams and sports fans.The company boasts a diverse portfolio of owned and licensed brands, including the iconic Hummel, which provides kit to a portfolio of professional sports teams for both club use and sale to fans. The funding enables us to expand our reach in the grassroots community sports market as well as in female sports wear, and we look forward to working with The FSE Group as we grow.With a sportwear market worth \xa315 billion and over 43,000 grassroots football clubs, the UK alone presents a significant opportunity for SportsPro to expand its reach. Whilst continuing its growth across professional teams, the company also aims to strengthen its digital sales channels and develop new sports fashion apparel ranges, including retro strips for football and rugby.Dave Young, Investment Manager at The FSE Group, added: As UK licence holder for Hummel, one of the oldest and most iconic sports brands in the world, SportsPro is well-positioned to expand its support to both professional and community sports teams across the UK in the years ahead. The funding will allow SportsPro to accelerate its growth plans, increase its operational capacity, and further develop its range of offerings across the team and individual sportswear marketplaces.Sarah Newbould, Senior Investment Manager, Nations & Regions Investment Funds, at the British Business Bank, said: SportsPro has ambitious expansion plans.